Thank you for your kind words, Desiree.

Personally, if I needed a house now, I'd buy the best that I could afford, even in the current market. I'd do that knowing that I'm likely paying at least a somewhat inflated price.

If I could, though, I'd wait at least a few months, to see if prices come down and to give myself more time to find a better deal. I don't think residential real estate can continue to go up in price much more in the near-term future in most US markets.

High interest rates would make it painful, but that's relatively short-term pain. When rates drop, I'd be able to refinance, reducing my monthly payments. That's what happened with each of the houses I've bought to date.